An efficient hybrid search algorithm for various optimization problems

Mario Vanhoucke

Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium from Ghent University, Faculty of Economics and Business Administration

Abstract: This paper describes a detailed study of a recursive search algorithm for different optimization problems. Although the algorithm has been originally developed for a project scheduling problem with financial objectives, we show that it can be extended to many other application areas and therefore, can serve as a sub-procedure for various optimization problems. The contribution of the paper is threefold. First, we present a hybrid recursive search procedure for the project scheduling problem with net present value maximization and compare it with state-of-the-art procedures by means of computational tests. Second, we show how the procedure can be adapted to two other application areas: project scheduling with work continuity minimization and the open pit mining problem. Last, we highlight some future research areas where this hybrid procedure might bring a promising contribution.

Pages: 14 pages
Date: 2006-01
New Economics Papers: this item is included in nep-cmp
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:rug:rugwps:06/365

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